What Entrepreneurs Need to Know about Government: A Guide to Rules and Regulations

Wesley B. Truitt

Aug 2004 · Greenwood Publishing Group

About this ebook

No business operates in America today under purely market forces.Myriad rules and regulations govern every area of business conduct: from establishing the firm to ensuring protection of the environment to hiring and firing policies. More than half of all startups that fail in the first year do so not because they produce inferior products or neglect to analyze the competition, but because they do not understand the regulatory environment in which they operate. In What Entrepreneurs Need to Know about Government, Wesley Truitt presents the most comprehensive overview of government regulation and its impact on business management to date. Covering all levels of regulation (federal, state, and local/municipal) and all stages in a firm's growth cycle (establishment, expansion, and liquidation), Truitt shows entrepreneurs and managers of established business alike how to navigate the minefield of rules and policies that oversee business activity.

Drawing from a wide variety of primary data sources and his own extensive experience in the public and private sectors, Truitt clearly explains how government regulation of business has evolved and analyzes its positive and negative implications for management. Featuring descriptions of all the key agencies and summaries of major laws, Truitt offers practical guidance through a huge array of issues, including: intellectual property protection, legal incorporation, product safety and liability, taxes, mergers and acquisitions, employee benefit programs, divestiture, and much more. He identifies common pitfalls to avoid, ways to benefit through government assistance programs, and methods for influencing the policymaking process. Including practical checklists and extensive listings of informational resources, What Entrepreneurs Need to Know about Government is an essential guide for any business competing in the not-so-free market.

About the author

WESLEY B. TRUITT is Executive-in-Residence at the College of Business Administration, Loyola Marymount University, in Los Angeles, where he teaches MBA and Executive MBA courses. He is also Principal of Truitt Consulting, assisting organizations with business planning and strategic positioning, and Adjunct Professor at the Anderson Graduate School of Management, University of California, Los Angeles. Formerly a senior executive at Northrop Grumman Corporation, specializing in government relations, he is the author of Business Planning: A Comprehensive Framework and Process (Quorum, 2002).